Bitcoin has fallen below support as expected, reaching a low of 114,667. Ethereum is relatively strong; last night it was affected by the TRON reverse merger, breaking the downward channel, and this morning it has fallen back into a range of fluctuations.
Overall, the strategy is still to look forward to the opportunity for Bitcoin to fake a breakdown and return. The Ethereum exchange rate is relatively strong in its rebound, but we still need to wait for Bitcoin to adjust properly. The outlook remains bullish for Bitcoin, targeting 135,000, and if Ethereum breaks 4,100, it could rise to 6,700.
Bitcoin
Bitcoin has broken below support, with the gap between 135,000 and 134,000. The risk control is that the body cannot fall below 112,000, so this needs to be paid special attention to. On the daily chart, we mentioned that the MACD histogram is crossing the zero axis with the fast and slow lines, and yesterday's analysis also pointed out the need to pay attention to this situation.
On the hourly level, it has dropped to 114,667 with weak rebound strength and will continue to test lower levels. Watch for opportunities to re-enter on the right side.
Support: Pressure:
Ethereum
Ethereum's rebound is relatively strong, but it has not broken the pressure around 3,770. Therefore, we still need to wait for Bitcoin to finish adjusting and see if Ethereum can hold above the 3,500 support.
On the four-hour level, the downward channel has turned into a sideways consolidation, so we need to pay attention to whether it can break through its key resistance level. If it cannot break through, there will still be a need for a pullback. The key is to see when Bitcoin will bottom out and rebound. The strategy for Ethereum is still to buy in batches on the way down at 3,500—3,300—3,100.
Support: Pressure: If you like my views, please like, comment, and share. Let's navigate through the bull and bear markets together!!!
The article is time-sensitive and for reference only, with real-time updates.
Focusing on K-line technical research, sharing global investment opportunities. Official account: BTC Trading Prince Fusu
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